Imagine, no more opening envelopes, suffering paper cuts, filling out deposit slips, standing in teller lines at the bank, or waiting at the drive-through simply to deposit funds. This is a reality for many provider and facility offices throughout New Mexico. Electronic Funds Transfer (EFT) offers an advantage over mailing paper checks in time savings and reduction of lost or mis-routed payments.
Under the current paper system, check information is sent for printing and mailing approximately 72 hours after the claim is finalized. Once mailed, this can add further delays to actual receipt. However, when using EFT, funds may be available to you as early as 72 hours after claim finalization, depending upon your financial institution's protocol.
To change from paper check to EFT, access the HCSC Electronic Funds Transfer Agreement and HCSC Electronic Funds Transfer Agreement Instructions. Once you have completed the EFT agreement and appendix [1.1], mail the required forms and additional attachments to:
Health Care Service Corporation
Electronic Commerce Services Unit - 25th Floor
300 East Randolph Street
Chicago, Illinois, 60601
If your practice or facility is experiencing difficulty with receiving mailings, informational updates, and paper payments, you can submit corrections to your demographic information via forms, or online, using the following links:
Paper corrections:
Provider – Request to Establish or Revise a Provider Record
Facility – Request to Establish or Revise a Facility Record
For questions about the EFT form, or if you require any other assistance, contact us or your BCBSNM Network Services Representative.
Note: You do have the option of selecting bi-weekly payments, to lump multiple claims into a larger, single payment.
